The simplified restructuring procedure, which can be used by indebted companies from June 2020, has significantly accelerated the recovery of Polish companies during the pandemic. However, what should still change in this regard?
How many companies have benefited from simplified restructuring?
The simplified restructuring procedure was introduced as a temporary solution in June 2020, together with the anti-crisis shield 4.0. However, it turned out to be so effective that the government started working on amending the restructuring law after just a few months, taking into account the introduction simplified restructuring permanently. Today it is certain that simplified restructuring, in its amended form, will stay with us for longer – from 1 December this year it will be replaced by a new procedure for approval of the arrangement.
– This tool has already been used in There are over 700 indebted companies in Poland and today it is the most frequently chosen form of restructuring in our country. However, it is hard to be surprised. Simplified restructuring significantly accelerates the process of repairing the company, lasts a maximum of four months, and in addition, it takes place practically without the participation of the court. Its high effectiveness is also worth noting. Statistics show that the vast majority of cases have already ended with an arrangement with creditors. At the same time, many classic proceedings would not even have had time to start properly - emphasizes Małgorzata Anisimowicz, qualified restructuring advisor and president of the management board PMR companies Restructuring.
30 July 2020. We invite you to read the full version:" Simplified restructuring needs to be extended to further forms of support
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